Top 10 Economies of The World : Check the Full List Here

Top 10 Economies of The World: India has recently surpassed the UK to become the world’s fifth largest economy. Going by the trends it is expected that India will surpass Japan as the third largest economy in the world by the year 2029.

Let us look at the top 10 economies of the world based on nominal GDP in the year 2022.

What is Nominal GDP?

Nominal GDP is defined as the market value of all goods and services produced in a country over a given period. The nominal GDP differs from the other sources of GDP calculation as nominal GDP does not consider inflation and deflation while calculating GDP.

The Top 10 Economies of the World at a Glance

1. USA

Capital: Washington D.C

Area: 9.834 million km²

Population: 335,258,117  or 335 million (Approx)

United States of America is the topmost country as per the report commanding a nominal GDP of $ 26 trillion. It contributes around 24.1 % of the world’s GDP.

2. China

Capital: Beijing

Area: 9.597 million km²

Population: 1,451,523,352 or 1.45 billion (Approx)

China is second on the list with a nominal GDP of $ 21.8 trillion. It accounts for nearly 20% of the world’s GDP.

3. Japan

Capital: Tokyo

Area: 377,975 km²

Population:  125,631,209 or 125 million (Approx)

Japan is the third largest economy in the world which contributes 4.8% of the world’s GDP and has a nominal GDP of 5.29 trillion dollars.

4. Germany

Capital: Berlin

Area: 357,588 km²

Population: 84,370,487 or 84 million (Approx)

Germany is fourth on the list of the top 10 economies of the world, and it contributes 4.1 % of the world’s GDP. The nominal GDP of Germany in the year 2022 is  4.56 trillion dollars.

5. India

Capital: New Delhi

Area: 3.287 million km²

Population: 1,597,342,354,426 or 1.59 billion (Approx)

India has surpassed UK to become the fifth largest economy in the world and it contributes 3.5% of the world’s GDP. India has a nominal GDP of 3.8 trillion dollars in 2022.

6. UK

Capital: London

Area: 243,610 km²

Population: 68,667,820 or 68 million (Approx)

UK is now the sixth largest economy after being surpassed by India in 2022. The nominal GDP of UK is 3.687 trillion dollars and it contributes 3.3% of the world’s GDP.

7. France 

Capital: Paris

Area:  547,557 km²

Population: 65,590,115 or 65 million (Approx)

France is the seventh largest economy in the world and has a nominal GDP of 3.086 trillion dollars and contributes 2.80% of the world’s GDP share.

8. Canada 

Capital: Ottawa

Area: 9,879,750 km²

Population: 38,654,738 or 38 million (Approx)

Canada is one of the largest countries in the world and is also the eighth largest economy in the world. The contribution of Canada to world GDP is 2.10 % and the nominal GDP of Canada is 2.362 trillion dollars.

9. Italy 

Capital: Rome

Area: 301,340 km²

Population: 60,266,989 or 60 million (Approx)

Italy is one of the super economies of the world and comes in the 9th position in the latest report. It has a nominal GDP of 2.169 trillion dollars and shares 2% of the world’s GDP.

10. Brazil

Capital: Brasília

Area: 8,515,767 km²

Population: 215,868,143 or 215 million( Approx)

The last country on the list of top 10 economies of the world is Brazil and it has a nominal GDP of 1.980 trillion dollars. It contributes 1.8% of the world’s GDP.

Top 10 Economies of the World in 2022

This list is prepared based on data obtained from IMF WEO.

This in addition to the SBI’s Economic Research suggests that India will overtake Germany in the year 2027 and Japan in 2029 to become the third largest economy.